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Important Update - Scheduled Outage from 1-3 March

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We’re very excited that the Bank of Heritage Isle will begin integrating  with Police Bank systems on Friday 1 March 2019. This integration marks a significant step in enabling us to offer you, our Members, a greater variety and choice of products.


While we carry out this integration, we’re expecting an outage to our App, Internet Banking and Mobile Banking from midday Friday 1 March until  5pm Sunday 3 March. During this time, ATM withdrawals as well as some point of sale card transactions will be impacted. Please withdraw enough cash for the weekend and any reserves you may need before midday Friday 1 March.  


Thank you for your patience.


Changes to banking with Heritage Isle

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We have sent Members information regarding the upcoming integration of Police Bank and Bank of Heritage Isle systems (currently planned for 1 March 2019), which outlines the key benefits and changes to your banking experience.


The document below is included in the mailing pack sent to Members and provides details of the key things you need to understand, as well as formal notifications of the changes we will be making to your current terms, condition fees and charges as part of the system integration.


You can view the Banking with Heritage Isle document here.


Please take the time to read the information carefully and if you have any questions please contact us on 134 374 or email us at



Important Privacy Information

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From 14 January 2019, there are amendments to the Bank’s Privacy Notice and Privacy Policy which will take effect.
Why are there changes?
We will soon be launching an enhanced loan application platform which makes applying for a loan easier and faster. This new platform is provided by the credit reporting body Illion, who operate in other countries overseas from time to time. We have updated our Privacy Notice and Privacy Policy to include this new information.
How do these changes affect me?
There are no direct impact of these changes. Please read our Privacy Notice and Privacy Policy for more details about the changes who we exchange information with and when we may send information overseas.
Information is current at date of publication: 14 January 2019

2018 Annual General Meeting

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Date: Thursday, 29 November 2018

Tuscan Room

Sydney Masonic Centre
66 Goulburn St
Sydney NSW 2000

Time: 6pm


This week Members will start receiving the upcoming 2018 Annual General Meeting information pack, which includes: Annual General Meeting Notice & Agenda, Director Candidate Statements, Proxy Voting Form, and Voting Instructions. 

Click the below to vote in the 2018 Director Elections:


Voting has now closed.


For more information on the upcoming Annual General Meeting click here.


Call for Nominations

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There is 1 Police Bank Ltd Director vacancy in this year’s election. Director Colin Dyson’s term expires at this year’s AGM and he is nominating for a further term.
Candidates must be nominated by five members of the Bank, have been a member continuously for at least 3 years at the date of nomination and meet a number of requirements as prescribed in the Bank’s Constitution and nomination pack. A copy of the Constitution is available on our website here.
Nominations close 5.00pm (AEST) on Wednesday 19th September 2018.
To obtain a nomination form and nomination pack, please contact: Jennifer Miller
Mail: 25 Pelican Street, Surry Hills NSW 2010

RBA Rate July 2018

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RBA Rate on hold for July 2018

It should come as no surprise to many that the Reserve Bank of Australia (RBA) has maintained the official cash rate at 1.50%, in line with the last 22 months. This is the longest length of time that a rate has remained at the same level consistently. An increasing number of economists now predict that we are not likely to see a change in this rate anytime soon; some looking as far as 2020 at the earliest. Financial markets aren’t fully priced for a 25 basis point increase in the cash rate until late 2019.

The bank has taken this decision based on a range of different reasons. Namely, a cooling housing marketing, high levels of household debt, plus low inflation and wage growth rates. "The low level of interest rates is continuing to support the Australian economy," the RBA said in a statement. "Further progress in reducing unemployment and having inflation return to target is expected, although this progress is likely to be gradual."

No change in the rate is expected anytime soon based on the slump in credit growth and housing prices. It is hoped that this will not adversely impact levels of household consumption, but until the RBA can be confident of this, it is highly unlikely that we will see a shift in the cash rate.

"Nationwide measures of housing prices are little changed over the past six months. Conditions in the Sydney and Melbourne housing markets have eased, with prices declining in both markets. Housing credit growth has declined, with investor demand having slowed noticeably," said RBA Governor Philip Lowe.

JP Morgan’s Sally Auld states that "This leaves the RBA at the mercy of global developments, and potentially, very vulnerable to the next global downturn. Were such an event to be realised, it is highly probable that the next move in rates in Australia is down."

Conversely other economists remain optimistic. Saul Eslake from the University of Tasmania believes that inflation should start to move back towards the bank’s target rate of 2 to 3 per cent in early-mid 2019.

For the official RBA article, please visit the Reserve Bank’s website.